Trump’s travel restrictions may result in $600M loss of foreign tourism spending in NYC
After Donald Trump put in place his strict and controversial travel restrictions, foreign travelers unsurprisingly became wary or coming to the U.S., notably student and youth groups and those from Mexico. In New York City, international visitors make up just 20 percent of tourists, but they account for more than 50 percent of spending, dropping an average of $2,000 each during their stays, which also include more stays in the outer boroughs. However, NYC & Company, the city’s tourism agency, expects the number of foreign tourists to drop by 300,000 fewer than 2016, when 12.7 million international visitors came to NYC, the first drop in seven years. According to the Daily News, this will result in $120 million less in tax revenue for the city and state and $600 million less spending in the city.
Pre-Trump, NYC & Company projected an increase of 400,000 foreign travelers. In 2016, the city saw a record-setting 60.3 million visitors, a number that had continued to climb steadily in recent years. But after the election and the subsequent bans on seven Muslim-majority nations and laptops on flights from certain places, they revised these predictions, even going so far as to say that spending losses could reach a whopping $1.4 billion.
[Via NYDN]
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